Fewer Join Top Ranks at Morgan Stanley

Morgan Stanley told employees Thursday that it promoted 144 employees to managing director, the fewest since the financial crisis was in full throttle, a person familiar with the matter said.

While the New York securities firm has normally given the coveted title to around 250 people annually, this year it promoted only 144, or 13 more people than it did after the 2008 financial crisis, this person said.